German Exports Growth Tops Expectations
10 Luglio 2017 - 9:23AM
RTTF2
Germany's exports grew more-than-expected in May, exceeding the
pace of increase in imports, data from Destatis revealed
Monday.
Exports grew 1.4 percent month-on-month in May, faster than the
0.9 percent increase seen in April. Shipments were expected to gain
only 0.3 percent.
This was the fifth consecutive rise in exports and the fastest
in four months.
At the same time, the monthly growth in imports held steady at
1.2 percent, but was faster than the expected increase of 0.3
percent.
As a result, the trade surplus rose to a seasonally adjusted EUR
20.3 billion from EUR 19.7 billion a month ago.
On a yearly basis, exports surged 14.1 percent, recovering from
a 2.9 percent fall in April. Imports growth accelerated sharply to
16.2 percent from 5.4 percent.
The current account of the balance of payments showed a surplus
of EUR 17.3 billion versus EUR 17.9 billion a year ago.
Looking ahead, ING-diba economist Carsten Brzeski said the
current upswing of exports should be taken with a pinch salt.
Given the high exchange rate sensitivity of German exports to
the US, the latest appreciation of the euro could leave some marks
on the German exports sector in the coming months, he noted.
Also, the Brexit impact is very unlikely to go away any time
soon, Brzeski said. These potential downward risks can only be
offset by a further strengthening of the Eurozone economy.
The International Monetary Fund last week said Germany's large
current account surplus can be evidence that a country is investing
abroad instead of at home. In the long run, this translates into
lower growth, the lender cautioned.
The IMF advised Germany to invest more in public infrastructure,
where investment has declined.
Grafico Cross US Dollar vs CHF (FX:USDCHF)
Da Mar 2024 a Apr 2024
Grafico Cross US Dollar vs CHF (FX:USDCHF)
Da Apr 2023 a Apr 2024
